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How long must live after the day retired to come out

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Question 1: Your grandmother bought an annuity from Great»West Life Insurance Company for $361,256 when she retired In exchange for the $361,256. Great-West will pay her $50,000 per year until she dies, The interest rate is 6%. How long must she live after the day she retired to come out ahead (that is, to get more in value than what she paid in)? She must live at least years. (Round up to the nearest whole year.)

Reference no: EM132535048

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